Nigerian Midstream and Downstream Petroleum Regulatory Authority , says the country’s domestic consumption for petrol has significantly dropped from 66.7 million liters, before the deregulation, to 44.3 million liters per day.Ahmed disclosed this in his keynote address at the opening session of the Oil Trading and Logistics 2023 Africa Week 2023 on Monday in Lagos.
Ahmed said that the drop in the number of licensed importers was due to the challenge of forex illiquidity which had constrained the oil marketing companies’ ability to import the product. “The efforts of the Nigerian government towards ensuring that the overall national energy security of the country is administered in a manner that optimises position within the complex global energy dynamics.